Why we should all get married

03/05/2011

Except if you’re the heir to throne, getting married is a little unfashionable these days, and many couple choose to avoid wedlock altogether, cohabiting and bringing up children without having got hitched.

But there are in fact some pretty great financial advantages to tying the knot. For example, you can avoid spending Capital Gains Tax on assets sold or given to your partner, because there is an Capital Gains Tax exemption allowing no gain or loss between married couples.

Inheritance tax is also something that married people can avoid paying on transfers between them. Also, wedding presents are exempt from IHT.

For married couples, the marital home is always inherited by the partner that lives on. For partners that cohabit, a legal document has to be drawn up - otherwise the property will be split between surviving relatives.